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Cash Equivalents And Investments
 3 Months Ended
Mar. 31, 2012
Cash Equivalents And Investments [Abstract]  
Cash Equivalents And Investments
2. Cash Equivalents and Investments:

As of March 31, 2012 and December 31, 2011, the Company's cash equivalents consisted entirely of money market funds with a fair value of $13.6 million and $11.6 million, respectively.

Investments consist of municipal debt securities and federal home loan securities. Investments with remaining maturities of less than one year are classified as short-term investments. Investments classified as long-term have maturities of one year to six years.

The Company intends and has the ability to hold its held-to-maturity securities to maturity, and therefore carries such investments at amortized cost in accordance with the provisions of the accounting guidance for investments in debt and equity securities. Held-to-maturity securities are not subject to the fair value disclosure requirements.

Investments held at March 31, 2012 and December 31, 2011 are summarized as follows (in thousands):

 

     March 31, 2012      December 31, 2011  
     Short-Term      Long-Term      Short-Term      Long-Term  

Municipal debt securities

    $ 3,938       $ 26,469       $ 4,139       $ 26,964   

Federal home loan securities

      —           17,099         —           18,027   
  

 

 

     

 

 

     

 

 

     

 

 

  
   $ 3,938       $ 43,568       $ 4,139       $ 44,991